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Cyril Amarchand Mangaldas Advises Swan Constructions On Its Acquisition Of Simplex Infrastructures

As a part of the Transaction, the total deal value is approx. INR 8664 crores. The debt proposed to be settled is approx. INR 8242 crores and total subscription amount is approx. INR 422 crores.

Cyril Amarchand Mangaldas advised Swan Constructions Private Limited (Swan) on its acquisition of Simplex Infrastructures Limited. Swan has agreed to acquire controlling stake in Simplex Infrastructures Limited (Simplex) though a preferential allotment of equity shares and warrants under Regulation 164A of SEBI (ICDR) Regulations, 2018 (“ICDR Regulations”).

 The acquisition of Simplex by Swan is primarily subject to:

 (i) The resolution plan being agreed by the lenders of Simplex under RBI’s directions for resolution of stressed assets;

(ii) Approval of Competition Commission of India; and

(iii) Approval of majority of minority shareholders of Simplex.

The General Corporate, Financing and Competition Law Practice of Cyril Amarchand Mangaldas advised on the deal. The overall Transaction team was led by L.Viswanathan, Partner; and the corporate aspects of the transaction were led by Gautam Gandotra, Partner; with support from Arnav Shah, Principal Associate, and Anushka Sharma, Associate. The financing aspects of the transaction were led by Amey Pathak, Partner with support from Varun Singh, Principal Associate.

The competition aspects of the transaction were led by Avaantika Kakkar, Partner; Vijay Chauhan, Partner; with support from Dhruv Rajain, Principal Associate, Mishail Khan, Associate; and Shivani Sathe, Associate. The due diligence team was led by Amey Pathak, Partner; with support from Varun Singh, Principal Associate, Arnav Shah, Principal Associate, Abhishek Khatri, Senior Associate; and Anushka Sharma, Associate.

Other Parties and Advisors to the transaction included Khaitan & Co. (Acted as Indian legal counsel to Lenders & committee of creditors).

As a part of the Transaction, the total deal value is approx. INR 8664 crores. The debt proposed to be settled is approx. INR 8242 crores and total subscription amount is approx. INR 422 crores.

The Transaction was signed on 12th April, 2022; and closure is expected in next 4 to 5 months.



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